Welcome back to part 2 of our Many Happy Returns whitepaper series! Throughout this article we’ll be exploring innovative customer journeys, technology investment and stabilising your income stream.
Series B: Stabilise. Expand. Repeat.
From a series B marketing pot of £1m, your budget for series B marketing programs, excluding wages for a team of 4-6, will be £500k - £600k, depending on sector and headcount. Your strategy will focus on both stabilising the income stream from the previous round’s target market and expanding into new segments and channels. You may also be developing new products and revenue opportunities. This will be also be a time to consider revisiting your brand, making sure it reflects your direction of travel towards series C.
Refresh your message, innovate customer journeys, automate processes
As you extend your reach, you’ll need to deepen your understanding of your customers and the journeys they take through your marketing and sales cycle. You’ll combine this insight with what you learned in series A to prepare the brand for an awareness push. You’ll also lay the foundations for processes, technology and resources needed to grow into enterprise level operations during series C expansion.
Your plan may include:
- Customer research: deeper profiling of customer needs for each new segment
- Customer journey mapping: defining and recording your customer journeys
- Brand refresh: strengthening the brand’s proposition and messaging
- Brand awareness: investing in baseline brand awareness
- Demand generation: innovating, refining + optimising your targeting, messaging, propositions + channels
- Technology investment: marketing automation and CRM technology
- Process automation: systemising your customer journeys across marketing, through to sales and CRM
- Digital operations: developing technologies and processes to manage and develop:
- Prospect and customer databases
- Website and social media publishing
- Journey analytics, optimisation, segmentation and personalisation
- Project management
- Team expansion: for example, product manager, content developer, digital marketer, PR + social manager